Nintendo has reported its first loss ever with a huge net-loss of $530 million.
The loss was incurred from the fiscal year of 2011. This is from April 2011 until March 2012. Hardware sales projections were not as high as Nintendo had hoped for.
Nintendo released this statement:
“While [Nintendo] did post a loss for the recently completed fiscal year, the continuing momentum of the Nintendo 3DS and the global introduction of the highly-anticipated Wii U home console will drive the company back into profitability in the current year.”
Will the continuing sales of the Nintendo 3DS and the release of the Wii U later this year make Nintendo profitable again? Nintendo stated in a separate statement that it aims for new profit of $245 million for the upcoming year.
Source: IGN
I am not surprised, the Wii sales dropped drastically and the poor sales of the 3DS up until the price cut, along with the price cut could not have helped profits in anyway.